Shanmuganathan Nagasundaram discusses his fantastic new book RIP USD, the history of money, the coming collapse of the dollar, and the end of the world as we know it.
the real question here is which currency would you trade in? Gold? this is like telling lets go back to pre 1973 era, the world does not work that way. Which other currency would you trade in? EUR? in 2011 it almost fell apart , and lost GDP share in the world from 24% to 15% today...30% decline. Chinese renminbi? no way....all these dictatorship countries have no status to be taken as reserve currency, all the rest is valid, but the logic is childish
Excellent interview. Thank you and Mr. Nagasundaram
the real question here is which currency would you trade in? Gold? this is like telling lets go back to pre 1973 era, the world does not work that way. Which other currency would you trade in? EUR? in 2011 it almost fell apart , and lost GDP share in the world from 24% to 15% today...30% decline. Chinese renminbi? no way....all these dictatorship countries have no status to be taken as reserve currency, all the rest is valid, but the logic is childish
Dead wrong Adem Smith, go back and re-read David Grabber: "Debt the First 5000 years"